FinVolution Group (NYSE:FINV) Shares Down 3.6%

FinVolution Group (NYSE:FINV)’s stock price fell 3.6% on Monday . The stock traded as low as $5.61 and last traded at $5.61. 6,252 shares traded hands during trading, a decline of 100% from the average session volume of 2,622,141 shares. The stock had previously closed at $5.82.

Several brokerages have weighed in on FINV. Citigroup cut FinVolution Group from a “buy” rating to a “neutral” rating and set a $6.07 price objective on the stock. in a research note on Tuesday, August 24th. China Renaissance Securities initiated coverage on FinVolution Group in a research note on Tuesday, September 21st. They set a “buy” rating and a $9.20 target price on the stock. TheStreet upgraded FinVolution Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 20th. Finally, Rowe initiated coverage on FinVolution Group in a research note on Tuesday, September 21st. They set a “buy” rating and a $9.20 target price on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.87.

The company has a market capitalization of $1.62 billion, a P/E ratio of 4.85 and a beta of 1.01. The stock has a 50 day moving average price of $6.29 and a 200 day moving average price of $7.20.

FinVolution Group (NYSE:FINV) last announced its quarterly earnings data on Monday, August 23rd. The company reported $0.34 earnings per share for the quarter. FinVolution Group had a return on equity of 26.91% and a net margin of 28.36%. The company had revenue of $369.25 million during the quarter.

A number of institutional investors and hedge funds have recently made changes to their positions in FINV. Credit Suisse AG increased its holdings in FinVolution Group by 6,886.5% in the 2nd quarter. Credit Suisse AG now owns 2,483,287 shares of the company’s stock worth $23,468,000 after acquiring an additional 2,447,743 shares during the last quarter. State Street Corp increased its holdings in FinVolution Group by 50.4% in the 2nd quarter. State Street Corp now owns 2,931,174 shares of the company’s stock worth $27,912,000 after acquiring an additional 981,619 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in FinVolution Group by 2,883.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 912,959 shares of the company’s stock valued at $6,400,000 after buying an additional 882,359 shares in the last quarter. BlackRock Inc. grew its holdings in FinVolution Group by 51.2% during the 2nd quarter. BlackRock Inc. now owns 1,902,883 shares of the company’s stock valued at $18,115,000 after buying an additional 644,013 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in FinVolution Group by 21.4% during the 1st quarter. Acadian Asset Management LLC now owns 2,686,011 shares of the company’s stock valued at $18,834,000 after buying an additional 472,809 shares in the last quarter. 18.65% of the stock is owned by institutional investors.

About FinVolution Group (NYSE:FINV)

FinVolution Group is an online consumer finance platform in China connecting underserved individual borrowers with financial institutions. The firm has developed technologies and accumulates in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence.

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